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An announcement from Raffles Education ( (SG:NR7) ) is now available.
Raffles Education has disclosed that the S$5.50 million in net proceeds raised from the recent sale of 44.66 million treasury shares has been fully deployed. The funds were used largely for loan repayments, personnel and other operating expenses, professional and interest fees, taxes, other payables, and a S$1.99 million investment into subsidiary Raffles Iskandar Sdn Bhd. Apart from the additional investment in Raffles Iskandar, the company said the utilisation of proceeds is consistent with its earlier stated plan to strengthen liquidity through debt reduction and support general working capital, underscoring efforts to stabilise its balance sheet and fund ongoing operations.
The most recent analyst rating on (SG:NR7) stock is a Hold with a S$0.18 price target. To see the full list of analyst forecasts on Raffles Education stock, see the SG:NR7 Stock Forecast page.
More about Raffles Education
Raffles Education Limited is a Singapore-incorporated education services provider, operating through subsidiaries such as Raffles Iskandar Sdn Bhd. The group focuses on delivering educational programmes and related services in its key markets, positioning itself within the private education sector in the region.
Average Trading Volume: 21,523,301
Technical Sentiment Signal: Buy
Current Market Cap: S$235.1M
See more insights into NR7 stock on TipRanks’ Stock Analysis page.